UK unemployment to hit 10 per cent as furlough scheme ends, says report July 28, 2020 UK unemployment is set to rise to 10 per cent by the end of the year after the government made the “mistake” of winding down the job retention scheme, a respected economic forecaster has predicted. The National Institute of Economic and Social Research (Niesr) also said the UK economy would take three years to return [...]
Banks lend £49bn to SMEs to survive coronavirus fallout July 28, 2020 Banks have now lent out £49.4bn through the three main government-backed loan schemes, according to Treasury data released today. Banks have given out £33.7bn through the bounce back loan scheme (BBLS) up until the week ending 26 July. The programme sees the government guarantee 100 per cent of bank loans worth up to £50,000 to [...]
Sadiq Khan calls on government to extend furlough scheme July 27, 2020 Sadiq Khan has once again called on the government to extend its furlough scheme for struggling sectors ahead of changes this weekend which could lead to a surge in unemployment. From Saturday employers will have to pay national insurance and pension contributions for furloughed employees. However, for many sectors such as hospitality and leisure, the [...]
Johnson bans buy one get one free offers amid war on obesity July 27, 2020 Boris Johnson has banned buy one get one free offers and introduced a 9pm watershed on junk food advertising as the Prime Minister wages war on obesity amid the coronavirus crisis. GPs will prescribe Weight Watchers diet plans to overweight patients, as the government attempts to get every overweight Brit to lose 5 lbs. Johnson [...]
Lib Dem candidate Siobhan Benita quits race to become London mayor July 27, 2020 Siobhan Benita, the Liberal Democrats’ candidate for next year’s London mayor election, has stepped down after coronavirus delayed the vote until May 2021. Benita announced her decision today, saying the unpaid role was “very difficult to combine with other work”. Originally Londoners were set to vote on a new mayor in May 2020. However, the [...]
TfL may halt Crossrail 2 work over government funding review July 24, 2020 Transport for London (TfL) today warned it may have to pause work on some of its biggest infrastructure projects, including Crossrail 2, unless it gets a new funding deal from the government. The capital’s transport operator this morning set out its revised budget for the year, saying it would need £3.5bn due to the damage [...]
TfL’s financial blackhole hits £3.5bn as commuters stay home July 24, 2020 Transport for London (TfL) this morning said it would need £3.5bn in funding over the full year due to uncertainty over commuter demand due to the coronavirus. The figure is £300m higher than that laid out in the transport operator’s emergency coronavirus budget in May. It also said that it would require an additional £2.9bn [...]
Shaun Bailey accuses Sadiq Khan of misleading MPs over TfL pay July 23, 2020 Shaun Bailey has challenged London mayor Sadiq Khan’s claims that the number of Transport for London employees earning over £100,000 had dropped during his tenure. Speaking to MPs yesterday at a hearing of the transport select committee, Khan was asked by Robert Largan to justify why 557 employees were on such remuneration packages. The mayor [...]
TfL stops 30,000 commuters not wearing face masks July 22, 2020 Transport for London enforcement officers have so far stopped 33,500 people from getting on public transport unless they put on face masks, according to the latest figures. A further 1,983 people were prevented from boarding services without masks, while 475 people were ejected from modes of transport. From those who were not able to get [...]
Crossrail set for further delays and cost increases due to coronavirus July 22, 2020 The long-awaited Crossrail transport project will face further delays and additional costs due to the coronavirus pandemic, London mayor Sadiq Khan has said. Much of the work on the huge rail project had to be suspended in the spring due to safety concerns over working in confined spaces. Speaking to the transport select committee this [...]